Posted on 10/30/2011 8:53:14 PM PDT by blam
ALERT: Yen Plunges Big-Time After Japan Intervenes In The Market
Joe Weisenthal
Oct. 30, 2011, 9:50 PM
After watching its currency hit new post-WWII high after post-WWII high against the dollar, finally Japan has moved to intervene.
Here's a chart of the dollar vs. yen via FinViz. As you can see, the dollar has surged against the yen in the past few minutes.
The super-strong yen has been a source of major consternation for Japanese exporters, for whom the strong yen has made business difficult. Nintendo, for example, blamed the super-strong yen for a quarterly loss.
(Excerpt) Read more at businessinsider.com ...
Interesting. Just checked kitco and got “service unavailable”
Create billions of new units of fiat currency out of nothing and tangible items of real value can be acquired with fewer of those units.
Makes perfect sense... /s
The Japanese are masters of merchantilism. They have been doing this for 30+ years. It has everything to do with protecting their export industry.
Note the article references the profitability of their companies.
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